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A platform to help shape the future technology investment of small businesses

Posted on 29 April 2013

For the first time, the leading organisations representing small
firms and technology businesses have joined forces to identify just how
small firms are using technology to grow and create jobs. 

 

The Federation of Small Businesses (FSB) and Intellect have
produced a joint report which outlines how small firms have invested in
technology and the benefits they have derived from doing so. The report,
the digital imperative, small businesses, technology and growth,
surveyed 2,200 people and found that on average small firms have spent
around £3,500 on technology in the last 12 months, proving that
investment doesn't have to break the bank to see rewards.

 

The research shows that 85 per cent of small businesses identify
investment in new technologies as a key driver for business growth.
Around six in 10 (62%) said that it had a positive impact on how they
communicate with existing customers and 53 per cent believe it has
helped in targeting new customers. 

 

However, many small firms see a gap in the market for support and
guidance and for access to appropriate products for small businesses. A
quarter of businesses say that greater skill levels for themselves and
their staff would help them invest more in technology, and the report
finds that additional technology skills can derive greater productivity
from staff.

 

The FSB and Intellect want to see Local Enterprise Partnerships
(LEPs) use any funding to prioritise technology in plans for local
growth. Each LEP should set out clear steps as to how they will support
small businesses that want to upskill and use technology to grow their
business. 

 

The organisations also believe that a small business technology
taskforce should be developed which provides events alongside private
sector suppliers, to provide small firms with access to information and
professional guidance to help optimise their use of and investment in
technology. 

 

Launching the report today in London, small businesses and experts
from across the technology industry debated the findings and the
positive steps that should be taken to allow small firms to utilise the
potential of technology.

 

Source: FSB